KUALA LUMPUR (March 30): The National Annual Corporate Report Awards (NACRA) has introduced a new award category — the Integrated Reporting Award.

It has also replaced its Corporate Social Responsibility Reporting Award with a new Sustainability Reporting Award.

NACRA 2017 organising committee chairman Ahmad Zahirudin Abdul Rahim said the Sustainability Reporting Award was added to be in line with Bursa Malaysia Bhd's amendments to its Main and ACE Markets listing requirement to include a sustainability statement in annual reports.

The amendment requires annual reports to disclose listed issuers' management of material economic, environmental and social risks and opportunities.

Ahmad was speaking at the launch of the NACRA 2017 competition.

NACRA is jointly organised by Bursa Malaysia, Malaysian Institute of Accountants (MIA) and Malaysian Institute of Certified Public Accountants (MICPA).

Established in 1990, it aims to promote greater corporate accountability and more effective communication of financials and other information by companies to their stakeholders.

The competition is open to all listed and non-listed organisations established in Malaysia. The closing date for registration and submission of entries is May 31, 2017.